The board has appointed the founder Chairman P N C Menon as Chairman Emeritus of the company.

As part of the succession planning, P N C Menon, who has led the company for 17 years, has expressed his desire to be relieved of the day-to-day responsibilities of running the company and the board has reluctantly decided to accede to his request, it said in a statement.

Ravi Menon, 31, currently the co-chairman, graduated with distinction in civil engineering from Purdue University, US, it added.

The board has appointed the founder Chairman P N C Menon as Chairman Emeritus of the company.

As part of the succession planning, P N C Menon, who has led the company for 17 years, has expressed his desire to be relieved of the day-to-day responsibilities of running the company and the board has reluctantly decided to accede to his request, it said in a statement.

Ravi Menon, 31, currently the co-chairman, graduated with distinction in civil engineering from Purdue University, US, it added.